Nevada Mortgage Calculator
body {
font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
line-height: 1.6;
color: #333;
background-color: #f8f9fa;
margin: 0;
padding: 20px;
}
.loan-calc-container {
max-width: 800px;
margin: 30px auto;
background-color: #fff;
padding: 30px;
border-radius: 8px;
box-shadow: 0 4px 15px rgba(0, 0, 0, 0.1);
}
h1, h2 {
color: #004a99;
text-align: center;
margin-bottom: 20px;
}
.input-group {
margin-bottom: 20px;
display: flex;
flex-wrap: wrap;
align-items: center;
border-bottom: 1px solid #eee;
padding-bottom: 15px;
}
.input-group label {
flex: 1 1 150px;
min-width: 120px;
margin-right: 15px;
font-weight: bold;
color: #555;
}
.input-group input[type="number"],
.input-group input[type="text"] {
flex: 2 1 200px;
padding: 10px 15px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 1rem;
box-sizing: border-box;
}
.input-group input[type="number"]:focus,
.input-group input[type="text"]:focus {
border-color: #004a99;
outline: none;
box-shadow: 0 0 0 2px rgba(0, 74, 153, 0.2);
}
.input-group .currency-symbol {
padding: 10px;
background-color: #eee;
border: 1px solid #ccc;
border-left: none;
border-radius: 0 4px 4px 0;
box-sizing: border-box;
}
.input-group .percent-symbol {
padding: 10px;
background-color: #eee;
border: 1px solid #ccc;
border-left: none;
border-radius: 0 4px 4px 0;
box-sizing: border-box;
}
button {
display: block;
width: 100%;
padding: 12px 20px;
background-color: #004a99;
color: white;
border: none;
border-radius: 5px;
font-size: 1.2rem;
cursor: pointer;
transition: background-color 0.3s ease;
margin-top: 20px;
}
button:hover {
background-color: #003366;
}
#result {
margin-top: 30px;
padding: 25px;
background-color: #e9ecef;
border: 1px solid #dee2e6;
border-radius: 8px;
text-align: center;
}
#result h3 {
margin-top: 0;
color: #004a99;
font-size: 1.4rem;
margin-bottom: 15px;
}
#monthlyPayment {
font-size: 2.5rem;
font-weight: bold;
color: #28a745;
}
.article-section {
margin-top: 40px;
padding-top: 20px;
border-top: 1px solid #ddd;
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.article-section h2 {
text-align: left;
color: #004a99;
margin-bottom: 15px;
}
.article-section p, .article-section ul, .article-section li {
margin-bottom: 15px;
color: #333;
}
.article-section li {
margin-left: 20px;
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.disclaimer {
font-size: 0.85rem;
color: #777;
text-align: center;
margin-top: 30px;
}
@media (max-width: 600px) {
.input-group {
flex-direction: column;
align-items: flex-start;
}
.input-group label {
margin-bottom: 10px;
flex-basis: auto;
}
.input-group input[type="number"],
.input-group input[type="text"] {
width: 100%;
flex-basis: auto;
margin-right: 0;
}
.input-group .currency-symbol,
.input-group .percent-symbol {
width: auto;
margin-left: 0;
}
.loan-calc-container {
padding: 20px;
}
}
Nevada Mortgage Calculator
Your Estimated Monthly Payment
$0.00
This includes Principal & Interest, Property Taxes, Homeowner's Insurance, and HOA Fees.
This calculator provides an estimate for Nevada properties. Actual costs may vary. Consult with a mortgage professional for precise figures.
Understanding Your Nevada Mortgage Payment
Buying a home in Nevada involves several costs beyond the base price of the property. This calculator helps you estimate your total monthly mortgage payment, which typically includes more than just the principal and interest. Understanding each component is crucial for budgeting and financial planning.
Components of Your Monthly Mortgage Payment:
-
Principal & Interest (P&I): This is the core of your mortgage payment. The principal is the amount you borrowed, and the interest is the cost of borrowing that money. The P&I payment is calculated based on your loan amount, interest rate, and loan term.
-
Property Taxes: Nevada's property taxes are relatively low compared to other states, but they are a mandatory cost. The rate can vary by county and specific district. Your lender will typically collect a portion of your estimated annual property tax each month and hold it in an escrow account to pay the bill when it's due.
-
Homeowner's Insurance: Lenders require homeowners insurance to protect their investment against damage from fire, natural disasters, and theft. The cost varies based on coverage, deductible, and location. Like property taxes, a portion of your annual premium is usually paid monthly into your escrow account.
-
HOA Fees (if applicable): If your property is part of a Homeowners Association (HOA), you will have monthly or annual fees to cover the maintenance of common areas, amenities, and other services. These are paid directly to the HOA.
How the Nevada Mortgage Calculator Works:
This calculator uses standard formulas to estimate your monthly obligations:
-
Loan Amount: Calculated as
Home Price - Down Payment.
-
Monthly Principal & Interest (P&I): Calculated using the mortgage payment formula:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
Where:
M = Monthly PaymentP = Principal Loan Amounti = Monthly Interest Rate (Annual Rate / 12)n = Total Number of Payments (Loan Term in Years * 12)
-
Monthly Property Tax: Calculated as
(Home Price * Annual Property Tax Rate) / 12.
-
Monthly Homeowner's Insurance: Calculated as
Annual Homeowner's Insurance / 12.
-
Monthly HOA Fees: This is the direct input value.
-
Total Estimated Monthly Payment: Sum of Monthly P&I + Monthly Property Tax + Monthly Homeowner's Insurance + Monthly HOA Fees.
Nevada Specific Considerations:
While mortgage calculations are universal, Nevada has specific factors that influence housing costs. Property tax rates are generally lower than in many other states, but they can differ significantly between counties (e.g., Clark County vs. Washoe County). It's essential to research the specific tax rates for the area you are interested in. Homeowner's insurance costs can also be affected by factors like proximity to wildfire-prone areas.
This calculator serves as a helpful tool to estimate your potential monthly housing expenses. Remember to get pre-approved by a lender to understand your borrowing capacity and receive official loan terms.
function calculateMortgage() {
var homePrice = parseFloat(document.getElementById("homePrice").value);
var downPayment = parseFloat(document.getElementById("downPayment").value);
var loanTermYears = parseInt(document.getElementById("loanTerm").value);
var annualInterestRate = parseFloat(document.getElementById("interestRate").value);
var annualPropertyTaxRate = parseFloat(document.getElementById("propertyTaxRate").value);
var annualHomeInsurance = parseFloat(document.getElementById("homeInsurance").value);
var monthlyHoaFees = parseFloat(document.getElementById("hoaFees").value);
var resultDiv = document.getElementById("result");
var monthlyPaymentDiv = document.getElementById("monthlyPayment");
// Clear previous results
monthlyPaymentDiv.textContent = "$0.00";
resultDiv.style.display = 'none';
// Input validation
if (isNaN(homePrice) || homePrice <= 0 ||
isNaN(downPayment) || downPayment < 0 ||
isNaN(loanTermYears) || loanTermYears <= 0 ||
isNaN(annualInterestRate) || annualInterestRate < 0 ||
isNaN(annualPropertyTaxRate) || annualPropertyTaxRate < 0 ||
isNaN(annualHomeInsurance) || annualHomeInsurance < 0 ||
isNaN(monthlyHoaFees) || monthlyHoaFees = homePrice) {
alert("Down payment cannot be greater than or equal to the home price.");
return;
}
var loanAmount = homePrice – downPayment;
var monthlyInterestRate = annualInterestRate / 100 / 12;
var numberOfPayments = loanTermYears * 12;
var monthlyPI = 0;
if (monthlyInterestRate > 0) {
monthlyPI = loanAmount * (monthlyInterestRate * Math.pow(1 + monthlyInterestRate, numberOfPayments)) / (Math.pow(1 + monthlyInterestRate, numberOfPayments) – 1);
} else {
monthlyPI = loanAmount / numberOfPayments; // Handle 0% interest
}
var monthlyPropertyTax = (homePrice * annualPropertyTaxRate / 100) / 12;
var monthlyHomeInsurance = annualHomeInsurance / 12;
var totalMonthlyPayment = monthlyPI + monthlyPropertyTax + monthlyHomeInsurance + monthlyHoaFees;
monthlyPaymentDiv.textContent = "$" + totalMonthlyPayment.toFixed(2);
resultDiv.style.display = 'block';
}